How Would It Be Easier to Determine If a Firm

question 202

Essay

How would it be easier to determine if a firm made or lost money last year―by looking at the balance sheet or by looking at the income statement? Support your answer by explaining in general terms what accounts a balance sheet lists and what accounts an income statement lists.

---

Definitions:

Marketing Channel

A set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption and, as such, which consists of all the institutions and all the marketing activities in the marketing process.

Distribution Center

A warehouse or specialized facility where products are stored and organized for the purpose of redistributing goods to retailers, wholesalers, or directly to consumers.

UPC Tag

A barcode label that contains a unique product identification code used in retail to track and manage inventory, facilitating the checkout process and inventory management.

UPC

Universal Product Code, a barcode symbol that retailers use to track trade items in stores and inventory systems.